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re: Hi Cwy,

I do not think anyone on HC is in a position to provide authoritive information. Some info by posters on HC may very well be correct and the same as what a company is prepared to say however in the case of APG like any other stock you know as well as me that the completetion will be subject to secured funding (that is funding for capital expenditure) and then as allways APG will be at the mercy of Ausenco, followed by the manufactureres of the parts followed by the contractors. Hence it could very well blow out.

Now I am not too sure what you meant in the reply to Earnies post your comments re drawdown!

I think people must understand that at this point that although APG have secured a $3.0mil placement that is allowed to be accessed in a certain manner partly as you described APG are NOT going to go the whole hog and say "hey we have all this money lets go"!

For those who have been in the stock 97/98 and and earlier most are not aware how close to insolvency APG came!

If it wasnt for top 20 shareholders puting thier hand in their pockets APG would not be around today. The company has a history raising funds via placements for working capital then using those funds wisely.

APG have managed to upgrade the technology and run the coy for less than $1.0m per annum.

According the Cornell capital will be used primarily for working capital for the next 2 plus years with small portions used to upgrade the plant for the feasability.

However I am almost certain an upgrade to a larger plant at Newcastle will be undertaken and funded by a major.

In simple terms albiet there is $3.0m funding it will not be enough for working capital and the upgrade. Now APG are wise in doing this as we can all sit back with confidence as we know they are not going to go out the backdoor in the next three years.

So all they need to do now is find a major who will pay for the plant upgrade, pay for a project in Australia and have that project income producing within three years otherwise APG will then have to go back to the market.

Of course my guess is that someone will eventually want to take a large position in APG (not a take over although from feasability completion onwards it could be possible) but not at 4.0c!

APG are being very carefull with thier money and balancing future working capital needs against the need for capital expenditure.

I think (and hope)the next announcement will provide everything APG requires up to and including production.

When we talk Q3 are we all talking same Q. Financial year or calander? I beleive APG are talking calander.

The grape vine has said "hopefully" by the end of this month. Based on that I would not be punting $$$ needed mid June just in case further delays are encounted.

As I have enough I am comfortable and relaxed about the situation and will sit back and wait patiently however as allways and like others I will not be able to resist a weakness in the stock that will allow me to pick up cheap and trade out later.

Cheers

Cheers